East West Bancorp, Inc. Reports Earnings Results for the Fourth Quarter Ended December 31, 2020
January 28, 2021 at 06:30 pm IST
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East West Bancorp, Inc. announced earnings results for the fourth quarter ended December 31, 2020. For the year, the company announced net interest income was USD 1,377.193 million compared to USD 1,467.813 million a year ago. Net income was USD 567.797 million compared to USD 674.035 million a year ago. Basic earnings per share from continuing operations was USD 3.99 compared to USD 4.63 a year ago. Diluted earnings per share from continuing operations was USD 3.97 compared to USD 4.61 a year ago.
For the fourth quarter, net interest income was USD 346.581 million compared to USD 368.219 million a year ago. Net income was USD 164.084 million compared to USD 188.215 million a year ago. Basic earnings per share from continuing operations was USD 1.16 compared to USD 1.29 a year ago. Diluted earnings per share from continuing operations was USD 1.15 compared to USD 1.29 a year ago.
East West Bancorp, Inc. is a bank holding company that offers a full range of banking services to individuals and businesses through its subsidiary bank, East West Bank (the Bank). Its segments include Consumer and Business Banking, Commercial Banking and Other. The Consumer and Business Banking segment provides financial products and services to consumer and commercial customers through its domestic branch network and digital banking platforms. This segment also offers consumer and commercial deposits, mortgage and home equity loans, and other products and services. The Commercial Banking segment generates commercial loans and deposits. Commercial loan products include construction finance, commercial business lending, working capital lines of credit, trade finance, letters of credit and others. Commercial deposit products and other financial services include treasury management, foreign exchange services and others. It operates in over 120 locations in the United States and Asia.
EAST WEST BANCORP, INC. 
